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Deposit of money in a bank is not a bailment, as the bank is not bound to return the same notes and coins. Agent who collects money on behalf of his principal is not a bailee.
? KINDS OF BAILMENT
The different types of bailment are as under:-
1) DEPOSITUM: Safe deposit vault is a bare bailment of goods for the use of the bailor.
1) COMMODATUM: Lending for writing or goods lent gratuitously to be used by the bailee and to be eventually returned.
2) LOCTIO ET CONDUCTIO: Goods given on hire, is a contract of bailment. The lender is called the locator and the borrower is called the conductor.
3) VADIUM: This is a bailment where goods are pawned to be security for money borrowed...
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